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- Got Cheered for Re: How do I use turbo to amend my 2020 return to add my $2,000 on line 30. So I can get my stimu.... 2 weeks ago
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- Posted Re: Do not wish to itemize. How do I skip questions about deductions, complete and file return ?? on Deductions & credits. April 18, 2022 3:37 PM
- Got Cheered for Re: Can I claim interest on my deceased partners mortgage I have paid all year? I'm the deed holder. April 18, 2022 3:36 PM
- Posted Re: Can I claim interest on my deceased partners mortgage I have paid all year? I'm the deed holder on Deductions & credits. April 18, 2022 3:29 PM
- Posted Re: The spouse and my name is on the property tax. do we file our own or only 1 can filed? on Deductions & credits. April 18, 2022 3:10 PM
April 18, 2022
3:37 PM
If you do not wish to itemize then do not start the itemized deductions section, or when prompted by TurboTax, just indicate that you have no such deductions.
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April 18, 2022
3:29 PM
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If your name is on the deed and you paid the mortgage and lived in the home, then you can claim the mortgage interest.
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April 18, 2022
3:10 PM
If you file jointly, you can claim the total property tax paid on your joint return.
If you decide to file as Married filing Separately, each spouse can claim a portion of the property taxes as long as the sum is equal to the taxes paid. Please note that property taxes is an itemized item and both spouses when filing separately must use the same deduction method (standard for both or itemized for both).
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April 18, 2022
3:00 PM
Limited by income means that you cannot claim more home office deduction than your self-employed income (profit). In other words, the home office deduction cannot create a loss for your business.
Any home office deductions not deductible in the current year may be carried forward indefinitely to future tax years , but still will be subject to the income limitation.
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April 18, 2022
2:55 PM
If you have received a new SSN card, then you should that SSN to file your tax return.
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April 18, 2022
2:52 PM
When you buy a property comprising a house (or building) and land, you have to split the purchase price between building and land. The most common method is to prorate these values using the appraised value by the local appraisal district.
For a rental property, you should enter two assets: The home and the land.
The home is depreciated over 27.5 years and the land is not depreciable.
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April 18, 2022
2:48 PM
Boxes 14 to 16 of form 1099-R report state tax withholdings. If you do not have have these boxes on your form 1099-R, then leave these boxes blank on the TurboTax entry screen.
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April 18, 2022
1:42 PM
You cannot claim your parents as dependents unless they are U.S. citizens, resident aliens, nationals, or Canadian or Mexican residents.
Please read this TurboTax Help topic for more information.
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April 18, 2022
1:27 PM
If box 5 is blank or $0, then you should also leave boxes 5, 6 and 7 blank.
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April 18, 2022
1:19 PM
No.
Property taxes can only be claimed in the year they are actually paid.
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